Economic control directly affects private lives and social control directly affects the economy.
to some degree, yes. but in very different ways.
economic control can effect the ability of people to pursue their personal/social desires to the extent that it can limit(by way of taxes/regulations) or increase(by way of welfare/regulations[ie minimum wage, 8 work days, etc]) ones ability to do so.
social control can effect the economy by effecting peoples productivity. prohibiting behaviors which are correlated with low productivity for example.
very very different.
lumping both parties together is just plain ignorant.